Pfizer Primary Care Business

Transcription

1 1 Pfizer Primary Care Business November 10, 2010

2 Pfizer Primary Care Olivier Brandicourt President and General Manager Primary Care Business Unit November 10, 2010

3 Forward-Looking Statements and Non-GAAP Financial Information 3 This presentation includes forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements. The factors that could cause actual results to differ are discussed in Pfizer s 2009 Annual Report on Form 10-K and in our reports on Form 10-Q and Form 8-K. This presentation includes certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of those non-u.s. GAAP financial measures to the most directly comparable U.S. GAAP financial measures can be found in Pfizer s Current Report on Form 8-K dated November 2, These reports are available on our website at in the "Investors SEC Filings" section.

4 4 Agenda The Pfizer Primary Care Business Unit The Global Primary Care Market Pfizer s Primary Care Business Unit Plan Pfizer s Performance Around the World

5 Primary Care: The Largest of Pfizer s Nine Business Units Nine Diverse Businesses Supported by an Integrated Research & Development Organization Primary Care Biopharmaceutical Businesses Specialty Care Oncology Diversified Businesses Established Products Emerging Markets Animal Health Capsugel* Consumer Healthcare Nutrition Worldwide Research & Development Including: PharmaTherapeutics, BioTherapeutics, Vaccines and Biotech Units Business Units Including: Development, Medical, Sales & Marketing Manufacturing Customer Focused Enabling Functions * Pfizer announced on October 6, 2010 the intention to review strategic alternatives for Capsugel, which may include a divestiture. 5

6 Primary Care: Pfizer Leads in a Market with Continued Opportunity 6 Branded PC Market is Still Expected to Be $125 1 Billion in 2015 Pharmaceutical industry research continues in Primary Care in areas not satisfied by generics About 1,400 Primary Care molecules in development today 2 70% increase over the number of PC molecules in development in 2002 Healthcare systems investing to achieve better patient outcomes efficiently US: $19 billion earmarked for Health Information Technology to improve care coordination and outcomes measurement Germany & UK: Chronic disease management being improved via large-scale disease management programs and local care networks France: 1.6 billion to improve Alzheimer s Care 1 Source: Decision Resources March 2010, estimate adjusted for Pfizer s Primary Care business unit structure, i.e., developed markets 2 Source: Internal analysis of IMS R&D Lifecycle, Paraxel

7 Primary Care Transforming Globally Becoming the Hub of Care 7 Traditional KOL HCP Patient Share of Voice Model KOL Ongoing HCP Patient Payer Complex Customer Influence Model Employer KOL Pharmacy Emerging HCP Gov t Patient Payer Social Media Group Practice Integrated Partnership Model Health care stakeholders organizing at different rates in different places Payer influence has been growing over individual physicians Emerging influencers create even more complex environment PC setting can reduce cost of care and improve quality Transformation Accelerated by Health Information Technology, Healthcare Reform and the Economy

8 8 A Three-Part Plan for Action Size Adapt & Transform Build

9 Size: Ensure Our Cost Structure is Aligned with Revenues Total Pfizer Cost Reduction Target of $4 $5 Billion from * Primary Care Major Contributor Sized Primary Care field forces around the world for post-lipitor LOE Using contract resources to maximize flexibility Established regional, more efficient structure to meet customer needs US regional business units European marketing platform Country customer-facing roles Seeking to partnering to share risk of medicine development * Reduction is on a proforma basis from combined total adjusted costs of Wyeth and Pfizer in 2008 at average 2008 foreign exchange rates. 9

10 10 Adapt & Transform: Meeting the Challenge Market Challenges Pfizer Action Restricted Physician Access Growing Emphasis on Outcomes Restrictions on access Prefers tailored communication Pricing pressures Proven value via Health Technologies Assessment (HTA) and Comparative Effectiveness Research (CER) Transformation of Primary Care go-tomarket model Multi-channel customer interaction Customer Relationship Management Getting payers the data they need Tightened Prescribing Guidelines/ Formularies Emergence of New Customer Groups/ Stakeholders Guidelines/formularies guide Rx Significant generic penetration Emerging buying groups and networks Broader range of local, regional and national approaches Make the case for branded medicine value Align teams to the new decision-makers

11 Build: PCBU Portfolio Aligns Well with Areas of Opportunity Primary Care Treatment Well-Being Consumer-focused Solutions Simple / Low-Risk Routine Treatment for Otherwise Healthy Patients; Generic Medicines Chronic / High-Risk Costly, More Difficult to Manage Patients/Conditions Erectile Dysfunction Viagra Women s Health Overactive bladder Toviaz Aprela* Vasomotor Symptoms Pristiq* Pain Lyrica Tanezumab* Celebrex Chronic Obstructive Pulmonary Disorder (COPD) Spiriva Chantix Alzheimer s Aricept Bapineuzumab* Ponezumab* Cardiovascular Metabolic Apixaban (Eliquis)* Lipitor Chantix (CV data) Lyrica * Compounds in development 11

12 12 Build: Pfizer s Strength in Pain Management Pending acquisition of King Pharmaceuticals: Branded Prescription Products 2009 Sales: $1.2 billion King branded pharmaceutical portfolio includes: Flector Patch, strong complement to Celebrex Avinza, a once-daily morphine treatment for moderate to severe pain Embeda, the first approved opioid pain product with design features intended to discourage abuse and misuse Epi-Pen, state of the art auto-injector; emergency treatment for severe allergic reaction In registration for relief of moderate to severe pain and designed to discourage abuse and misuse: Remoxy, long-acting oxycodone formulation Acurox, immediate release opioid analgesic

13 Build: Eliquis (apixaban) Development Timeline Accelerated 13 Market Opportunity Driven by Unmet Needs of Patients, Physicians Rolling Atrial Fibrillation (AF) Submission Underway dabigatran rivaroxaban Eliquis AF Eliquis AF EXPANSE Clinical Program ~60,000 Patients in 45 Countries Stroke Prevention in Atrial Fibrillation Acute Coronary Syndrome VTE Prevention in Orthopaedic Surgery VTE Prevention in Medically Ill VTE Treatment Acute/Chronic

14 14 Tanezumab: Data from Phase 3 Study Demonstrate Superior Efficacy in Patients with Osteoarthritis of the Hip vs. Placebo Tanezumab Clinical hold on trials in OA, chronic low-back pain, painful diabetic peripheral neuropathy Ongoing in areas of higher unmet need, e.g., cancer pain Working with FDA to determine next steps Randomized, double-blind, placebo controlled study in 621 patients latebreaker at ACR Superior efficacy of tanezumab at all doses (2.5, 5 and 10 mg) vs. placebo for all co-primary endpoints Pain, functionality and overall patient assessment (p 0.001) Consistent AEs with previous studies, abnormal peripheral sensation Generally dose-related, transient and mild-to-moderate Total joint replacement was reported in 8 patients 1 in the tanezumab 10 mg group, 2 in the tanezumab 5 mg groups, 2 in the tanezumab 2.5 mg group, and 3 in the placebo group

15 A Strategy That Delivers: US Portfolio Management 15 Early Mid-Cycle Mature Leverage insights for depression Will file for vasomotor symptoms 4Q10 Improved DTC efficiency Rollout of COPD/ CVD studies Opportunities from health care reform Continue improving trend Growing fibromyalgia, diabetic painful neuropathy Position for post-loe Targeting high-risk patients Accelerate uptake Mitigate Detrol LA decline Increased promotion across field force, DTC Launched new DTC and professional promotion Launching specialist contract field force Q4 Building Vaginal Cream value

16 A Strategy That Delivers: Leveraging Growth in Japan 16 Sell 3 of the top 5 products Proven ability to successfully enter new markets for Pfizer Lyrica: July postherpetic neuralgia approval, Oct peripheral neuropathic pain indication Viviant: Launched in October Significant growth of Celebrex, low back pain Rank Company Sales (MM Yen) Share 1 Takeda 530, % 2 Pfizer* 528, % 3 Daiichi Sankyo 491, % 4 Chugai 423, % 5 Mitsubishi Tanabe 400, % Expand field force Anticipating double-digit growth year-over-year, new products offset LOEs * Pfizer+Wyeth at close Source: IMS-JPM 2009 Company Ranking

17 A Strategy That Delivers: Europe Performing Above Market Through Economic Crisis 17 France Germany Italy Spain UK Requests yearly 400m savings Up 100m for high volume products in 2010/2011 Price freeze 8/ /2013 Mandatory rebates increase 10% to 16% for medicines with TE Product level price renegotiation Reference price cheapest comparator 7.5% cuts for drugs outside reference pricing Rx pricing unchanged Reinforcing generic substitution Value-based pricing in 2013 Market Growth France Germany Italy Spain* UK Total Retail Pharma Market Growth 0.6% 4.3% 0.5% 2.4% 2.1% PC BU Growth 4.1% 11.0% 6.5% 11.8% 5.4% Evolution Index Evolution Index is a measure of how Pfizer's products/portfolio is growing relative to the total relevant market. Pfizer data including 100% of co-promotes * In Spain, the Lipitor brand sales are excluded from PC BU sales IMS-MAT July 2010 (LCD) Source: Organisation for Economic Co-operation and Development (OECE), Eurostat, IMS

18 Winning Through Well-Differentiated Medicines, Efficient Management and Commercial Innovation 18 Differentiated Medicines Efficiency and Effectiveness Commercial Innovation Environment Traditional Share of Voice Model Ongoing Complex Customer Influence Model Emerging Integrated Partnership Model Engaging and Activating Integrated Stakeholder Networks

19 Thank You 19